I-T department invites comments on draft rules for valuing startup investment by non-residents

Under the existing norms, only investments by domestic investors or residents in closely held companies were taxed over and above the fair market value. This was commonly referred to as an angel tax.

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Hyundai, LG announce $4.3-billion plant in Georgia to build batteries for electric vehicles

The Hyundai-LG plant is supposed to be able to supply batteries for 300,000 electric vehicles per year, which is the initial projected production of the adjoining vehicle assembly plant.

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OpenAI offers $100,000 grants for ideas on AI governance

The $100,000 grants will go to recipients who present compelling frameworks for answering such questions as whether AI ought to criticize public figures and what it should consider the "median individual" in the world, according to a blog post announcing the fund.

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Some betting apps continue advertising despite ban; fintechs push for decentralised KYC regime

Happy Friday. A bunch of gaming and getting firms continue operations and ads across online platforms despite a government ban. This and more in today’s edition of ETtech Morning Dispatch.

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What is Volt Typhoon, the alleged China-backed hacking group?

Nearly every country in the world uses hackers to gather intelligence. Major powers like the US and Russia have large stables of such groups - many of which have been given colourful nicknames by cybersecurity experts, like “Equation Group” or “Fancy Bear.”

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Acquirer of Silicon Valley Bank announces layoffs at the failed institution; no impact on team based in India

CEO Frank Holding said the move would only affect "select" corporate Silicon Valley Bank positions, adding that neither employees in customer-facing jobs, nor members of a team based in India, would be impacted.

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Twitter crashes during Ron DeSantis US presidential run announcement

Twitter outages have been more numerous under Musk's ownership. In March, thousands of users reported problems accessing links posted on the platform.

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